Price Analysis

Verge (XVG): Need To Return To Its Core Values If Wishes To Sustain The Bearish Market Trend

Verge (XVG), initially known as DogecoinDark and launched in 2014, is an open-source privacy coin having a vast community of developers spread across all over the globe. The two main USP of Verge, aimed at providing anonymity to any transaction, is its obscurity tool Tor and an additional I2P layer. However, if you look at the recent market sentiments regarding Verge, it is almost on the lower side of the Bollinger chart. In recent times, the only good news that came for Verge (XVG) is the launch of its iOS wallet that is available to be downloaded for any apple device. In addition to that, the Verge team announced an upcoming meetup in Amsterdam on May 25th. Nevertheless, the meet is more about the investors that have been benefitted of XVG chips, rather than a conference focused on technology, science, and development. In addition to anonymity, speed of transaction is a major plus point for Verge (XVG).

Current Statistics:

Verge price chart

According to CoinMarketCap.com, the accumulated market capitalization of the Verge (XVG) coins is of 114,542,737 USD, with a return of investment of more than 9000%. As on May 07, at UTC 10:04, the 24-hrs trading volume in the altcoin is 3,150,510 USD, and there is a total of 15,999,142,339 XVG tokens in circulation. Against Bitcoin, it was trading around 0.00000120 BTC per XVG chips and is currently placed at 54th position in cryptocurrency chart. On April 12, Verge was trading around 0.008888 USD, and thereafter in a duration of 25-days, its value has degraded by a huge amount and today the altcoin is trading at 0.007160 USD, which is 19.4% below the former value.

Historically, the Verge (XVG) attended its optimum value on Dec 23, 2017, and traded at a huge amount of 0.300588 USD. If you look at the lowest value of the altcoin, it was around 0.000002 USD that the coin stoop to on Feb 05, 2015, a few months after its genesis. Although there is a slowdown in the crypto market, yesterday was somewhat a good trading day for Verge. Yesterday’s opening value of the crypto was 0.007064 USD, while it closed at 0.007113 USD, with a marginal intraday hike of 0.000049 USD (0.69%). In addition to that, the trading volume for the previous day, in the altcoin was of 3,221,619 USD.

Price Prediction of Verge (XVG):

Just like the market movement and action in Bitcoin, Verge (XVG) is showing a bearish trend for now. Additionally, Verge (XVG) is similar or moreover like a twin sister to Tron (TRX) and both are having a bad time for about a year now. These facts can also be illustrated from the future predictions of many experts regarding the duo. As per crypto analysts, Verge (XVG) will have a longer bearish pattern than the whole market. At the time when most of the cryptos are making a breakthrough toward the upper end of the spectrum, something like that seems to be unprecedented in case of Verge. Nevertheless, some optimistic news also came from experts and they speculated that the listing of iOS wallet and returning to its core value will help Verge in strengthening the value of its currency by almost 2 to 3% by the end of 2019.

Tags

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
Event Information
Event Information
Back to top button